Strathcona Resources (TSE:SCR) Hits New 1-Year High – Here’s What Happened

Strathcona Resources Ltd. (TSE:SCR) shares reached a new 52-week high on Friday . The stock traded as high as C$46.66 and last traded at C$46.46, with a volume of 50480 shares traded. The stock had previously closed at C$45.35.

Analyst Ratings Changes

Several research firms have recently weighed in on SCR. National Bank Financial lifted their target price on shares of Strathcona Resources from C$41.00 to C$69.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 31st. TD Securities upgraded shares of Strathcona Resources from a “hold” rating to a “strong-buy” rating in a research note on Friday, April 17th. Roth Mkm set a C$40.00 price objective on shares of Strathcona Resources and gave the company a “buy” rating in a research report on Tuesday, March 10th. Jefferies Financial Group cut their price objective on shares of Strathcona Resources from C$29.00 to C$26.00 in a research report on Tuesday, January 20th. Finally, Royal Bank Of Canada raised their price objective on shares of Strathcona Resources from C$36.00 to C$49.00 and gave the company a “sector perform” rating in a research report on Wednesday, April 8th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of C$39.14.

Strathcona Resources Price Performance

The business’s 50-day moving average price is C$39.49 and its 200 day moving average price is C$35.67. The company has a quick ratio of 11.09, a current ratio of 0.39 and a debt-to-equity ratio of 50.35. The company has a market capitalization of C$10.00 billion, a P/E ratio of 13.46, a price-to-earnings-growth ratio of -2.02 and a beta of 2.61.

Strathcona Resources Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 27th. Shareholders of record on Friday, March 27th were given a dividend of $0.30 per share. The ex-dividend date was Friday, March 20th. This represents a $1.20 annualized dividend and a yield of 2.6%. Strathcona Resources’s payout ratio is presently 34.58%.

Strathcona Resources Company Profile

Strathcona is one of North America’s fastest growing pure play heavy oil producers with operations focused on thermal oil and enhanced oil recovery. Strathcona is built on an innovative approach to growth achieved through the consolidation and development of long-life assets. The Company has three operations, including Cold Lake, Lloydminster Thermal and Lloydminster Conventional. Strathcona is a major producer in the Cold Lake region of Alberta. Our operations include thermal oil producing assets at Lindbergh, Orion and Tucker, with production from best-in-class steam-assisted gravity drainage (SAGD) oil assets.